Interest rate on duplex?

[Jade Pickenheim]

Hi BP, and thank you for existing.

We're very close to contracting on our first investment property, a duplex in which one unit we'd live, and rent out the other.

We've been talking with a lender, a family friend, for a while, and she today quoted a 4.5% interest rate on a 30-year conventional loan for this property. The prevailing rate seems lower - is the higher rate because it's a multi-unit, and/or an investment property? She did say rates for a multi-unit are higher, and rates for conventional higher than FHA, but I wanted to hear some other feedback. Does this sound right?

Any and all input greatly appreciated. Thank you very much!

[Andrew Postell]

@Jade Pickenheim this is a difficult question to answer.  We would need to know your credit profile, employment history, downpayment, loan type, etc.  Is this your first home ever?  Are you using down payment assistance?  There are lots of things that can go into your loan that might affect the rate.  Have you asked your loan officer these questions?